. In order for Linda to reach her saving goal. How much will Linda need to save each money b. Overall Linda contributed how much of her own money into saving account?
. In order for Linda to reach her saving goal. How much will Linda need to save each money b. Overall Linda contributed how much of her own money into saving account?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Linda wants to buy a new car in a few years. She sets a goal to have $43,950 in her savings account to buy a car. Linda plans to save money for 5 years by making monthly deposits to a saving account at APR 2.5% compounded monthly. Round answer to two decimal places
a. In order for Linda to reach her saving goal. How much will Linda need to save each money
b. Overall Linda contributed how much of her own money into saving account?
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